A Project Is A Temporary Endeavor Undertaken To Create A Unique Product, Service or Result
A Project Is A Temporary Endeavor Undertaken To Create A Unique Product, Service or Result
A Project Is A Temporary Endeavor Undertaken To Create A Unique Product, Service or Result
What is project?
“ A Project is a temporary endeavor undertaken to create a unique product, service or result”
Portfolio Management
A portfolio includes a group of programs, individual projects, and other related
operational work that are prioritized and implemented to achieve a specific strategic
business goal.
The Program and projects that make up the portfolio may not be related, other than
fact that they are helping to achieve a common strategic goal.
Organizational Project Management(OPM)
Provides a strategic framework to use and guide portfolio, program and project
management to deliver organizational strategy.
Directive
1. PMO Directly manages the projects
2. Degree of Control is high
Configuration Management
Configuration Management with Integrated Change Control
Evolutionary method
Opportunity to validate impact of change and its impact
Mechanisms for communication
Configuration Management Activities
Identity Configuration items
Status Accounting
Verification and Audits
Close Project or Phase
To Finalize all activities to formally complete the project or a project phase
Collect Requirements
To determine, document, and manage stakeholder needs and requirements.
Define Scope
To develop a detailed description of the project and product
1.Project Objectives
2.Product Scope description
3.Project requirement
4.Project boundaries
5.Project deliverables
6.Project acceptance criteria
7.Project constraints/assumptions
8.Initial Identified risk
9.Schedule milestones
10.Initial project organization
11.Fund limitation
12.Configuration management requirement
13.Approval requirement
Miscellaneous Terms
Work Package – A deliverable at the lowest level of WBS
Code of Accounts – Numbering systems used to identify unique components of WBS
Control Accounts – ( Cost Center ) A management control point where scope,budget,actual cost
and schedule are integrated and compared to EV for performance management
Rolling Wave Planning – It is form of Progressive Elaboration. Work for near term is planned in
details
Validate Scope
To formalize acceptance of the completed project deliverables
Control Scope
To monitor the status of the project and product scope and managing changes to the scope
baseline
PROJECT TIME MANAGEMENT
Define Activities
To identify and document the specific actions to be performed.
Sequence Activities
To identify and document relationships among the project activities.
Analogous Estimation
Uses a similar past project to estimate the duration or cost of your current project.
Thus the root of the word: analogy.
Considered a combination of historical information and expert judgment
Less Accurate
E.g if it cost $7,100 to develop a website a few months ago and you are responsible
for developing a new similar website, you estimate it to cost $7,100.
Parametric Estimating
Uses the relationship between variables to calculate the cost or duration.
For example, in the previous project, cost of concreting per cubic meter was $100.
Then you can determine total cost of current similar project by using previous
information.
Manager: Usually how long does it take to complete the engine design?
Engineer: About 5 days.
Manager: Great. And what if there were problems… unexpected issues come up, and
there are new things that we haven’t thought up of arise?
Engineer: Well, in that case, it might take as long as 10 days, worst case! Manager:
I see. And how about if everything goes smoothly. No hiccups, and no problems?
What’s the best case?
Engineer: Then I could get it done in just 3 days flat.
Triangular Distribution:
E = (5 + 10 + 3) / 3 = 18/3 = 6 Days.
Beta Distribution:
E = (3 + 4*5 + 10) / 6 = (3 + 20 + 10) / 6 = 33/6 = 5.6 Days.
Estimate Activity Duration-Tools and Techniques
Three-point estimates
To mitigate the risks on the estimation techniques, project manager uses three-point estimates
be created
Based on these three estimates, an average can be created to predict how long the activity
should take.
Three-point estimates is the new name for the PERT( Program Evaluation and Review
technique)
Develop Schedule
To analyze activity sequence, duration, resource requirement, and schedule constraint to
create the project schedule.
Schedule Outputs
Project Schedule-It can be presented graphically:
Milestone Chart
Bar Chart
Project Schedule Network Diagram
Schedule Baseline
Schedule Data
Project document updates
Activity Resource Requirement
Calendar
Risk Register
2.In this case, the cost increases as more resource used for the same work
4.Activities which has fixed timing cannot be reduced like drying time of a concrete
Fast Tracking
1.This method changes the relationship of activities
2.With this method, activities that normally would have been in sequence are allowed to be
done in parallel or with some overlap.
3.This can be accomplished by changing the relation of activities from FS to SS or by adding lead
time to down team activities
Miscellaneous Concepts
Resource Leveling
1.Start and Finish dates are adjusted based on resource constraints
2.Used when critical resources are shared
Resource Smoothing
The activities are adjusted in such a manner that requirements for the resources does not
exceed
a predetermined
Critical Chain Method
1.The critical chain method aims to eliminate Parkinson’s Law by eliminating bottlenecks that
hold up the project progression
2.In this method, deadlines associated with individual tasks are removed, and the only date
that matters is the promised due date of the project deliverables
3.It works to modify schedule based on availability of resources rather than the pure sequence
of activities
4.This method first requires the discovery of the critical path and then applies available
resources to determine the true resources limited schedule
5.Based on the availability of resources the critical path may be completely different than the
CPM
6.This method evaluates each activity’s latest possible start and finish dates. Thus giving the
project managers to manage buffer activity duration
7.Buffers can be added to point where non-critical chain meet critical chain called feeder
buffers and also at end of the project called project buffer
8.The buffers are then monitored for consumption
Control Schedule
To monitor the status of project activities to update project progress and manage changes to
the schedule baseline
The cost management processes and their associated tools and techniques along with following
component are documented:
Units of measure
Levels of Precision: The degree to which activity cost estimates will be rounded up or down
Levels of accuracy: The acceptable range (e.g. +5%) used in determining realistic activity cost
estimate
Amount for contingencies.
Estimate Cost
Estimating Cost-Inputs
Organizational Process Assets: The following internal policies and processes are used
Cost Estimating Policies – internal guidelines on how to estimate cost.
Cost Estimating templates - that can be used to develop cost estimate
Historical information – related to project product or services.
Project Scope baseline: The project scope statement along with the WBS and WBS enables the
estimator to come up with the cost estimate.
Human Resource Plan: key resources are always on demand and have to allocated and de-
allocated at the appropriate time.
Risk Register: The cost of responding to a risk need to be a part of the estimated costs. It could
be a threat and hence, increase the cost or could be an opportunity reducing the cost.
Estimate Cost-Inputs
Enterprise Environmental Factor:
1. Market Conditions
Solo Source
Activity Attributes
Single Source
Multiple vendor
2. Published Commercial Information
3. Type of project Expenses:
Direct Cost
Indirect Cost
Estimates have variable level of accuracy depending on the amount of information available at
different stages of the project life cycle.
Determine Budget-Input
Activity Cost Estimates : Activities within each work package to arrive at the estimate for each
work package.
Basis of Estimate: Developed during the cost estimating phase.
Project Scope Baseline: To review and incorporate funding constraints, available in the charter
and which get documented in the project scope statement into the cost budget.
Project Schedule: Used to aggregate costs for the period when the specified activity would be
performed.
Resource Calendars: Shows details of when the particular resource can be active and when it
would be inactive.
Contract: Information related to what products or services need to be produced is obtained.
Control Cost
Cost Control is executing one or more of the following with a view to controlling costs within a
project:
Comparing actual cost with the Cost Baseline.
Influencing factors that impact Cost Baseline.
Managing Changes efficiently thereby controlling costs.
PROJECT QUALITY MANAGEMENT
What is Quality?
Quality is “the degree to which a set of inherent characteristic fulfill requirements”
Inputs
"Conformance of requirements of the customer”- philip crosby
“Predictable uniformity & dependability at low cost and suited to market”- W Edward Deming
“Fitness for use” – Joseph Juran
2.Flowcharts
It is also referred to as process maps because they display the sequence of steps and the
branching possibilities that exist for a process that transforms one or more inputs into one or
more outputs.
3.Checksheets
It is also known as tally sheets and may be used as a checklist when gathering data.
4.Pareto Diagram
It exist as a special form of vertical bar chart and are used to identify the vital few sources that
are responsible for causing most of a problem’s effects.
5.Histograms
It is a special form of bar chart and are used to describe the central tendency, dispersion, and
shape of a statistical distribution.
6.Control Charts
It is used to determine whether or not a process is stable or has predictable performance.
Upper and lower specification limits are based on requirements of the agreement.
7.Scatter Diagram
Plot ordered pairs (X, Y) and are sometimes called correlation charts because they seek to
explain a change in the dependent variable, Y, in relationship to a change observed in the
corresponding independent variable, X.
Quality management and control tools - Seven basic control quality tools
1.Affinity Diagram
The affinity diagram is similar to mind-mapping techniques in that they are used to generate
ideas that can be linked to form organized patterns of thought about a problem.
3.Interrelation Diagraph
The interrelationship digraphs provide a process for creative problem solving in moderately
complex scenarios that possess intertwined logical relationships for up to 50 relevant items.
4.Tree Diagram
Also known as systematic diagrams and may be used to represent decomposition hierarchies
such as the WBS, RBS (risk breakdown structure), and OBS (organizational breakdown
structure).
5.Network Diagrams
Previously known as arrow diagrams. The most commonly used, AON (Activity on Node)
formats of a network diagram.
6.Matrix Diagram
A quality management and control tool used to perform data analysis within the organizational
structure created in the matrix.
Control Quality
Control Quality is the process of monitoring and recording results of executing the quality
activities to assess performance and recommend necessary changes.
PROJECT HUMAN RESOURCE MANAGEMENT
1. Forming - Team begins to address the project work, technical decisions, and the
project management approach
2. Storming - Team members begin to work together and adjust their work habits and
behaviors to support the team. The team learns to trust each other
3. Norming - Teams that reach the performing stage function as a well-organized unit.
They are interdependent and work through issues smoothly and effectively
4. Performing - Teams that reach the performing stage function as a well-organized unit
5. Adjourning – The team completes the work and moves on from the project
Tuckman ladder
Organizational Theories
McGregor’s Theory of X and Y
X is bad – These people need to be watched all the time, micromanaged and cannot be trusted.
X people avoid work, shun responsibility and lack the aptitude to achieve.
Y is Good – These people are self-led, motivated and can accomplish new tasks proactively.
Ouchi’s Theory Z – Workers are motivated by a sense of commitment, opportunity and
advancement. They learn business by moving up through the ranks of the company. This theory
also credits the idea of lifetime employment. The workers will stay in the company until they
retire because they are dedicated to the company, which in turn dedicated to them.
Expectancy Theory – This theory states that people will behave based on what they expect as a
result of their behaviour.
McClelland’s Theory of Needs
a) Need of achievement
b) Need for affiliation
c) Need for Power
PROJECT COMMUNICATIONS MANAGEMENT
Manage Communications
To create,collect,distribute,store,retrieve and the ultimate disposition of project information
Benefits of this process is that it enables an efficient and effective communications flow
between project stakeholders.
Control Communications
Control Communications is the process of monitoring and controlling
communications throughout the entire project life cycle to ensure the information needs of the
project stakeholders are met .